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T. Mulholland Income Statement For years ended December 31, 2017 and 2018 T. Mulholland Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Change
T. Mulholland Income Statement For years ended December 31, 2017 and 2018 T. Mulholland Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Change 2018 2017 Current assets: $697,000 $662,000 Cash $72,040 (367,000) (301,000Accounts receivable (net) 43,000 48,000 1,800 2,620 $33,900 $38,140 36,000 7,000 46,000 2,000 4,100 -2,300 4,000 -1,380 124,000 43,460 Sales (all on credit) Cost of goods sold Gross margin 330,000 361,000 nventory Prepaid expenses Depreciation expense Other operating expenses Total operating expenses Operating income 37,000 52,000 Other current assets 150,000 125,000 Total current assets 187,000 177,000 143,000 184,000 Long-term Investments 167,460 86,000 60,000 26,000 Other income (expenses) Plant assets Less: accumulated depreciation 312,000 (78,600) 233,400 486,860 261,000 51,000 (52,000) 26,600 209,000 24400 393,000 93,860 Interest expense Gain on sale of investments Loss on sale of plant assets Total other income (expenses) (5,000) (3,700) 6,9004,800 Total plant assets 4100) 4.900) Total assets (16,000) (3,800) Current liabilities: Income before income taxes Income taxes expense Net income 140,800 180,200 Accounts payable (42,240) (54,060)Accrued liabilities $98,560 $126,140 Income taxes payable $29,400 2,400 3,500 35,300 $30,000 $-600 2,000 40 13,000 -9,500 45,000 -9,700 0 Total current liabilities T. Mulholland Statement of Retained Earnings For the year ended December 31, 2018 Long term liabilities Notes Payable Total liabilities 249,000 284,300 185,000 64,000 230,000 54,300 2018 2017 $38,000 98,560126,140 Common stock, $5 par value 100,000 (59,000). (88,140) Additional paid-in capital 39,560 38,000 Retained earnings $77,560 $38,000 Total stockholders' equity202,560 $0 Stockholders' equity Ret. earnings, Jan. 1 Add: net income Deduct: Dividends Increase in retained earnings Ret. earnings, Dec. 31 0 0 38,000 39,560 163,000 39,560 $486,860 $393,000 $93,860 00,000 25,000 25,000 Z,560 Total liabilities and stockholders' equity Other information Shares of common stock outstanding Earnings per share Dividends per share Market price per share, common stock 20,000 20,000 $4.93 $6.31 $2.95$4.41 $17 $13 Cash Flows from Oper Horiz Analysis Horiz Analysis Vertic Analysis Vertic Analysis Ratios Inc St Bal St Inc St Bal Sheet Requirement Prepare the cash flows from operations section of T. Mulholland's 2018 statement of ca indirect method. Enter items to be subtracted as negative values. T. Mulholland Cash Flows from Operating Activities-Indirect Method For Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operations
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